Minister said Central bank of Iraq may buy more gold in upcoming days

09 Apr 2014

It has been reported that the Central Bank of Iraq may buy more gold in the forthcoming days. On Tuesday, Iraqi finance minister, on the sidelines of an Arab ministers meeting in Tunis, has remarked this. He also stated that the Central Bank of Iraq has bought 36 tons of gold last month in order to stabilize the exchange rate of the Iraqi dinar against other currencies. According to the data of IMF or international monetary fund, it has been said that the purchase was the first addition to Iraq’s gold reserves since it increased its holdings by 23.9 tons in August 2012. At the time of the purchase it was worth $1.5 billion.